Samsung chair sued by family after his father's money

There’s more drama over at Samsung with yet more relatives deciding to sue chairman Lee Kun-hee for a cut of his father’s – company founder Lee Byung-chull, cash.

The family of Lee Byung-chull’s grandson, Lee Jae-chan, has now jumped on the suing bandwagon demanding they get a cut of Kun-hee’s inheritance. Jae-chan committed suicide in 2010 after having troubles with his business.

However his family feel that he should be recognised in the family circle and now want a return of around $89 million (100 billion won) in stocks and cash.

According to the Korea Joongang Daily, Lee Jae-chan’s wife wants 454,847 of Chairman Lee’s shares in Samsung Life Insurance Co. She’s also going after 10 preferred and 10 common stocks in Samsung Electronics, and another 100 Samsung Life stocks as well as $88000 (100 million won).

Her two sons also want a piece of the cash action, demanding 300,231 shares in Samsung Life, 10 preferred and 10 common stocks in Samsung Electronics, and another 100 Samsung Life stocks. They also want $88,000 (100 million won).

They join a long list of relatives who want a bit of the wonga. In February Kun-hee was sued by his older brother and sister for a piece of his father’s legacy. Lee Maeng-hee and elder sister Lee Sook-hee, demanded their brother return part of the sum their father passed on before dying in 1987.

They claim that Kun-hee hid the bulk of group stocks and this in turn left them with less shares then they were intended to have.